Low Leverage / Clean Balance SheetA debt-free capital structure and a materially larger equity base improve solvency and lower financial risk over months. This durable strength reduces interest obligations and gives management flexibility to fund R&D or seek partnerships without immediate refinancing pressure, supporting runway.
Revenue Rebound In 2025A positive revenue inflection, even from a small base, signals nascent commercial traction or milestone receipts. If sustained, this trend can validate the development pathway, provide non-dilutive funding sources, and improve credibility with partners and investors over the medium term.
Lean Operating FootprintA very small headcount implies low fixed overhead and a capital-light operating model typical for early-stage biotechs. This reduces baseline cash burn, extending runway from existing resources and allowing focused spending on core TRPV1 development without large personnel-driven expense commitments.